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Federal Direct Student Loan:

The Federal Direct Student Loan is a low-cost loan based on demonstrated financial need. There are two types of loans:

  1. Subsidized (you repay only the amount of the loan, while the government pays the interest it accrues while you're in school), and
  2. Unsubsidized (you are responsible for repaying the amount of the loan and the interest it accrues while in school, although you can defer payment until after graduation).

The interest rate for a subsidized undergraduate Federal Direct Student Loan is generally lower than that of an unsubsidized loan.

Please Note:  Because of NGTC’s relatively low cost of attendance, Federal Direct Loans are not automatically packaged to student accounts.  Students need to complete a Direct Loan Request Form to request a loan.

{Button:} Click here to upload a Direct Loan PCIF {Need Full Name Here}

Federal Direct loans take approximately 4-6 weeks to process.  If you anticipate need for a loan to help cover tuition, fees, or dormitory charges, please allow sufficient time to process the loan.

 

Student Access loan Program (SAL)

Student Access Loans are designed to be the last funding resort for students who have a gap in their college financing.  Please visit the following link for more information:

https://secure.gacollege411.org/Financial_Aid_Planning/Financial_Aid_101/Georgia_Student_Access_Loan_Program/Georgia_Student_Access_Loan_Program.aspx

 

Private loans

Private loans are loans you receive through private credit unions, banks, etc. Private loans are typically given directly to students and have a higher interest rate than federal loans, so the amount you want to borrow may impact how many lender choices you have. An important thing to understand about this type of loan is that just because you've been approved for a loan one year, does not mean that you will be the next. You will have to re-qualify for each one.

The following link may be used as a starting point to compare lenders: http://privatestudentloans.com/lenders/